South Africa, known for its breath taking landscapes and vibrant culture, is also home to some of the wealthiest individuals on the African continent.
These business tycoons have made their fortunes in diverse sectors ranging from mining to technology. As the global economy continues to evolve, the sources of wealth for these individuals have shifted, with innovation, investment diversification, and entrepreneurial spirit leading the way.
According to goodreturns, here are the top 6 richest South Africans as of October 2024.
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1. Johann Rupert
Net Worth: $11.48billion
Industry: Luxury Goods
Johann Rupert, the chairman of the Swiss-based luxury goods company Compagnie Financière Richemont, holds the top spot as South Africa’s wealthiest individual. Richemont owns prestigious brands such as Cartier, Montblanc, and Dunhill. Rupert also has significant stakes in South African companies like Remgro and Reinet Investments, making him a dominant figure in the local and global luxury sectors.
2. Nicky Oppenheimer
Net Worth: $9.56 billion
Industry: Diamonds, Mining
Nicky Oppenheimer, a scion of the family that controlled De Beers, the world’s largest diamond producer, sold his family’s stake to Anglo American in 2012. While his direct involvement in the diamond industry has reduced, Oppenheimer’s diversified investments, especially through his private equity firm Tana Africa Capital, have continued to grow his fortune.
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3.Koos Bekker
Net Worth: $3. billion
Industry: Media, Technology
Koos Bekker is credited with transforming Naspers, a South African media group, into a global tech giant. Under his leadership, Naspers invested in the Chinese tech company Tencent, a move that has yielded enormous returns. Bekker continues to hold a significant stake in Naspers and its subsidiary Prosus, which focuses on internet platforms and digital services globally.
4. Patrice Motsepe
Net Worth: $3.07 billion
Industry: Mining, Finance
Patrice Motsepe became South Africa’s first black billionaire through his mining company African Rainbow Minerals (ARM), which operates in gold, platinum, and coal. He also holds a stake in the financial services firm Sanlam and serves as the president of the Confederation of African Football (CAF). Motsepe’s philanthropic work through the Motsepe Foundation adds to his influential profile in South African society.
5. Michiel Le Roux
Net Worth: $1.87 billion
Industry: Banking
Michiel Le Roux is the founder of Capitec Bank, one of South Africa’s largest banks by market value. Known for its low-cost banking model, Capitec has revolutionized the industry by focusing on retail banking and offering affordable, accessible financial services. Le Roux remains an influential figure in South African banking circles.
6. Christoffel Wiese
Net Worth: $1.60 billion
Industry: Retail, Investments
Christoffel Wiese, best known for his stake in Shoprite, Africa’s largest supermarket chain, has also been involved in various other industries, including fashion and mining. While he faced setbacks after the collapse of Steinhoff International, Wiese has managed to rebuild his wealth through strategic investments.
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